Brokerages Set Ovid Therapeutics Inc. (NASDAQ:OVID) PT at $4.04

Shares of Ovid Therapeutics Inc. (NASDAQ:OVID) have received an average rating of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $4.04.

Several equities analysts have recently issued reports on the company. William Blair raised Ovid Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. HC Wainwright reissued a “buy” rating and set a $3.00 price objective on shares of Ovid Therapeutics in a report on Wednesday, December 4th.

Hedge Funds Weigh In On Ovid Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in Ovid Therapeutics by 311.2% in the third quarter. Barclays PLC now owns 84,175 shares of the company’s stock worth $98,000 after purchasing an additional 63,702 shares during the period. Geode Capital Management LLC increased its position in shares of Ovid Therapeutics by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,317,330 shares of the company’s stock valued at $1,555,000 after buying an additional 14,816 shares in the last quarter. XTX Topco Ltd raised its stake in Ovid Therapeutics by 46.2% during the 3rd quarter. XTX Topco Ltd now owns 38,230 shares of the company’s stock worth $45,000 after buying an additional 12,076 shares during the period. Verition Fund Management LLC bought a new position in Ovid Therapeutics during the third quarter worth about $88,000. Finally, BNP Paribas Financial Markets grew its stake in Ovid Therapeutics by 4,128.7% in the third quarter. BNP Paribas Financial Markets now owns 220,401 shares of the company’s stock valued at $260,000 after acquiring an additional 215,189 shares during the period. Institutional investors own 72.24% of the company’s stock.

Ovid Therapeutics Price Performance

Shares of OVID stock opened at $1.00 on Wednesday. Ovid Therapeutics has a 1 year low of $0.68 and a 1 year high of $4.10. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $1.14 and its 200-day moving average is $1.19. The firm has a market capitalization of $70.95 million, a price-to-earnings ratio of -2.13 and a beta of 0.29.

Ovid Therapeutics (NASDAQ:OVID) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.15 million. Ovid Therapeutics had a negative return on equity of 39.24% and a negative net margin of 5,142.56%. Sell-side analysts forecast that Ovid Therapeutics will post -0.48 EPS for the current fiscal year.

About Ovid Therapeutics

Ovid Therapeutics Inc, a biopharmaceutical company, engages in the development of impactful medicines for patients and families with epilepsies and seizure-related neurological disorders in the United States. The company is developing soticlestat, a novel cholesterol 24 hydroxylase inhibitor, which is in Phase 3 clinical trials for the potential treatment of patients with resistant epilepsies; OV329, a GABA aminotransferase inhibitor which is in Phase 1 clinical trials for the treatment of seizures associated with tuberous sclerosis complex and infantile spasms; and OV350, a small molecule direct activator of the KCC2 transporter, which is in Phase 1 clinical trials for treating epilepsies.